Jasmine Co. purchased a new machine on May 1, 2009 for $528,000. At the time of acquisition, the machine was estimated to have a useful life of ten years and an estimated salvage value of $24,000. The company has recorded monthly depreciation using the straight-line method. On March 1, 2018, the machine was sold for $72,000. What should be the loss recognized from the sale of the machine? 1) $10,800.00 2) $0.00 3) $34,800.00 4) $24,000.00